The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

Ripple’s XRP Remittance Volume Plummets 92% As Crypto Startup Changes Strategy

by Daily Hodl Staff
July 14, 2020
in Ripple and XRP

Ripple’s remittance platform On Demand Liquidity (ODL) is witnessing an exponential drop in volume as the San Francisco payments startup changes its strategy in a Covid-19 world.

New statistics reveal that ODL volume peaked in May with a total of $316 million across four channels including Bitstamp to Bitso, Bitstamp to Coins.ph, BTCMarkets to Bitstamp, and BTCMarkets to Coins.ph. ODL volume took a 92% nosedive in June as the volume in all four channels amounted to a total of $25 million.

Source: Tableau Public

Ripple’s senior vice president of product management and corporate development Asheesh Birla recently predicted the drop in volume and says the payments firm is changing its strategy to adapt to a global economy ravaged by the coronavirus.

“We are continuing to focus on supporting low-value, high-frequency payments with ODL—though transaction volume may look different in this new world.

In particular, we are reducing emphasis on large treasury payments—which are traditionally used to fund businesses and services in the absence of real-time transfers—to support individual, low-value transactions, addressing the growing need in remittances and SME payments. This may reduce overall ODL transaction volumes.”

Even with the considerable drop in ODL volume, Ripple continues its push to launch ODL in new territories. Ripple vice president of customer success Marcus Treacher says the real-time payments startup is working on growing its remittance platform to service more corridors this year.

“We have established On Demand Liquidity corridors into Mexico, the Philippines, Australia and Europe, and we’re hoping to further this expansion by opening corridors to APAC and EMEA this year.”

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/IM_VISUALS

Submit a Press Release

Industry Announcements

  • BinaryX Launches AI Chat Game ‘AI Hero’ With Limited NFT Mints
    November 28, 2023
  • Binance Labs and BNB Chain Open New Founder-Focused Track To Incubate 100 Early-Stage Projects
    November 24, 2023
  • Socrates Launches Groundbreaking Social Media and Entertainment Platform for Web 3.0 Users Globally
    November 23, 2023
  • GCEX Receives Operational VASP License From Dubai’s Virtual Assets Regulatory Authority
    November 22, 2023
  • Yubo Ruan – Revolutionizing Web 3.0 With a Web 3.0 Super-App
    November 22, 2023
  • De.Fi Sold Out $5 Million Round, OKX, Binance and Coinbase Directors Among Investors – The Sale Is Still Open
    November 20, 2023
  • Sleek, the Web 3.0 Social Network, Raises $5 Million To Power the Ownership Economy
    November 17, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$37,954.17
$37,954.17
2.05%
Ethereum
$2,051.02
$2,051.02
1.32%
Cardano
$0.385412
$0.385412
1.97%
XRP
$0.611222
$0.611222
1.31%
Dogecoin
$0.080838
$0.080838
3.37%

Spotlight

  • Bloomberg Analyst Says Crypto at the Start of Upswing Which Will Last ‘Many Years’ – Here’s Why
    November 21, 2023
  • Macro Indicators Suggesting Bitcoin Rallies Just Getting Started, According to Ex-Goldman Sachs Executive
    November 21, 2023
  • Billionaire Ray Dalio Warns US at Inflection Point Where Enormous Debt Could Witness Acceleration – Here’s Why
    November 21, 2023
  • Crypto Analyst Calls for Ethereum To Massively Underperform Against Bitcoin, Says Now Is Not the Time for ETH
    November 21, 2023
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2023 The Daily Hodl